/Freakins-Using-Power-BI

This project includes two Power BI dashboards for analyzing cost reduction and inventory management in the apparel industry. It helps optimize costs, improve inventory turnover, and support supplier negotiations.

Apparel Industry Data Analysis Dashboards 📊

This repository contains two dashboards created as part of a project focused on optimizing the Buying and Sourcing strategies for the apparel industry. These dashboards provide insights into Cost Price Reduction and Restocks and Inventory Management, helping the team make data-driven decisions to reduce costs, manage inventory more effectively, and improve supply chain reliability.

Dashboards

1. Cost Price Reduction

Cost Price Reduction Dashboard

This dashboard offers a comprehensive analysis of cost components such as:

  • Raw Material Cost
  • Manufacturing Cost
  • Labor Cost
  • Logistics Cost

Key Insights:

  • Cost Structure by Item: Displays the breakdown of costs for different apparel items.
  • Supplier Negotiation: Analyzes supplier lead times and provides negotiation insights to reduce costs further.
  • Opportunities for Savings: Highlights areas where cost savings can be achieved by comparing supplier performances and identifying high-cost areas.

2. Restocks and Inventory Management

Restocks and Inventory Management Dashboard

This dashboard focuses on inventory management and restocking strategies. It provides the following insights:

  • Sales Trends: Visualizes sales over the past 12 months to identify peak periods and high-demand items.
  • Inventory Turnover Ratios: Assesses the movement of stock to determine fast-moving and slow-moving items.
  • Restocking Strategy: Offers optimal restocking points and quantities based on forecasted demand and inventory turnover.

Key Metrics:

  • Stock-out Rate: Highlights stock shortages.
  • Lost Sales: Indicates missed sales opportunities due to insufficient inventory.
  • High-Demand Items: Prioritizes items with the highest sales to inform restocking decisions.

Project Details

This project aims to support the Buying and Sourcing Team in the apparel industry by providing actionable insights for:

  • Cost Optimization: Reducing costs by analyzing the cost structure and benchmarking against industry standards.
  • Inventory Efficiency: Improving inventory management through forecasting, restocking strategies, and turnover analysis.

Tools and Technologies

  • Power BI: For building the interactive dashboards.
  • Excel: Used for preliminary data cleaning and analysis.
  • Python: Used for forecasting models and data analysis tasks.

How to Use

  1. Clone the repository to your local environment.
  2. Open the provided Power BI files (Power Bi FreakinsCom.pbix) in Power BI Desktop.
  3. Use the filters provided in the dashboards to explore the data by year, category, or specific items.
  4. Gain insights into cost structures, supplier negotiations, sales performance, and inventory strategies.

Conclusion

These dashboards aim to help the buying and sourcing team of an apparel business make informed decisions regarding cost reduction and inventory management. By leveraging data-driven insights, the team can optimize their strategies, reduce costs, and ensure smooth supply chain operations.

Contact

Feel free to reach out to me on LinkedIn or Email for any inquiries or collaboration opportunities.